In 2026, the ownership of the Harry Potter franchise is at the center of one of the largest corporate bidding wars in media history. While J.K. Rowling retains the fundamental intellectual property rights and final creative approval, the "Wizarding World" brand—including the films, theme parks, and merchandise—is owned by Warner Bros. Discovery (WBD). However, as of March 2026, WBD is the subject of intense takeover interest. Paramount Global (backed by Skydance) and Netflix are currently competing to acquire WBD, with bids reaching over $100 billion. This means that while Warner Bros. currently manages the brand and is developing a multi-season Harry Potter TV series for its Max streaming service, the ultimate parent company overseeing Harry’s future could shift by the end of the year. Additionally, NBCUniversal maintains a significant long-term licensing deal for the theme park rights and US television broadcast rights through 2025–2026.